Active
3332 Roadrunner Tr
Chattanooga TN, 37407
$1,299,000
$155.83 per sqft
Active
8,336 sqft
Multi-family
Built in 1973
Discover an exceptional investment opportunity at the edge of Missionary Ridge. Situated on the mountainside in East Lake, this 8-unit complex boasts ample land to double the unit number. Recently undergoing a complete renovation, the final touches are being applied to the last unit, promising completion within weeks. The property shines with luxury vinyl flooring, custom cabinetry, formica countertops, and extensive mechanical enhancements, presenting itself in pristine condition. A significant investment of over $150,000 has been made in constructing a concrete driveway, parking, and steps, elevating the infrastructure quality.
The complex offers a mix of spacious living accommodations, including two 3-bedroom units and six 2-bedroom units, most featuring 1 1/2 bathrooms. Each two-story unit is designed for comfort, with a generous living area, a half-bath, and a large eat-in kitchen on the first floor. Historically achieving full occupancy, one unit, in particular, has served as a successful mid-term rental over the past year, averaging $1,500 per month in revenue. Long-term rental rates vary between $940 and $1,300 per month.
Located conveniently close to downtown and all three major hospitals, the property is perfectly positioned to cater to the needs of traveling medical professionals seeking mid-term rental options. Nestled at the end of a quiet dead-end street, it offers tenants a peaceful living environment with minimal traffic noise and picturesque views of downtown. This complex not only promises the potential for rental rate increases but also minimal maintenance requirements for the foreseeable future, marking it as a steadfast investment opportunity.
An available short-term rental unit is open for preview. Interested parties are encouraged to contact us for a private showing and to explore the unique prospects this property offers.
1388864
MLSⓇ ID
March 21, 2024
Listed
April 16, 2024
Updated
Map
3332 Roadrunner Tr
Chattanooga TN, 37407
Interior Features
Total Stories
2
Fireplace
No
Cooling
Yes
Heating
Yes
Heating Description
Central, Electric
Exterior/Building Features
Lot Size
2.19 Acres
Lot Features
Mineral Rights, Scenic View, Sloping, Special Drainage, Extra Lot Available, Cul-De-Sac
Roof
Metal, Shingle
School Information
High School
Howard School of Academics & Tech
Elementary School
East Lake Elementary
Other Property Details
Taxes
$6,012
Tax Frequency
Annually
Association Fee
Not Listed
Garage
No
View
Yes
County
Hamilton
Water Source
On Sewer, Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
4/12/2024 | Price Change | $1,299,000 -2% |
Courtesy of Zach Taylor - Chattanooga
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Lawrence Team Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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